Home values are constantly moving up and down.
Usually, home values appreciate in the long term.
But, of course, in real estate there are no "sure things".
When your home appreciates you have more equity to borrow against, and you'll generate a higher profit when you sell.
There are numerous reasons why property values in Burlington move up and down. So, how will you know what you're purchasing this year will appreciate over time?
It's critical that you pick a real estate agent in Burlington who understands the factors that affect local prices.
What is the number one factor affecting real estate appreciation? Many are convinced that it's the economy.
there are several issues on a national level that influence your home's value: unemployment, mortgage rates, consumer confidence, and more.
However, your home's value and the aspects that play the biggest role in its appreciation depend on the local Burlington economy and housing market.
Access to services - Many home buyers choose to live in regions with the best and most convenient traits for households to develop, such as a close proximity to schools and work.
So those communities generally appreciate, or keep their value, best.
Real estate sales trends - How long do homes typically stay up for sale before closing? What was the final sales amount versus the asking price? A lot of data can be obtained from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
History of appreciation - In the last 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the neighborhood is considered?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a fair mix of business in an area, or does it depend on just one industry?
These items play a role.